Xcelerate,
Inc. Signs Letter of Intent to Explore
Business
Relationship with HS Pharmaceuticals
Mauldin, SC -- May 6, 2021 --
InvestorsHub NewsWire -- Xcelerate,
Inc.
(OTC pink
sheets: "XCRT") today announced it has signed
a non-binding letter of intent to pursue a business combination
with
HS Pharmaceuticals, LLC of Greenville,
SC. Over the past 14 years HS Pharmaceuticals has
developed a platform of novel technologies centered around their
patented and patent pending silicate particle research. Their
research, in conjunction with leading universities and research
facilities, has led to developments in healthcare in areas such as
immunotherapy alternatives, topical therapies to combat infection
and bacteria as well bone regeneration. For more information visit
their website
www.hspharma.com.
The LOI provides
for XCRT to undertake its due diligence wherein its world-renowned
team of clinicians and researchers will review HS Pharmaceuticals'
operations, structure, and intellectual property. "During this
process, Xcelerate, a rapidly emerging leader
in assembling
and developing early-stage medical technology, will determine how and in
what structure HS Pharmaceuticals research and IP would fit within
its business plan. The potential
consolidation with HS Pharmaceuticals is further evidence that
Xcelerate seeks to continue making headway in finding innovative
acquisitions within the patent/engineering world.
We remain focused on joining
early-stage medical technology companies in a
setting of controlled clinical care
where these new developments can be trialed, tested and
applied," said Xcelerate CEO Michael F.
O'Shea.
SAFE HARBOR
This press
release may contain forward-looking information within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), including all statements that are not
statements of historical fact regarding the intent, belief or
current expectations of the Company, its directors or its officers
with respect to, among other things: (i) the Company's financing
plans; (ii) trends affecting the Company's financial condition or
results of operations; (iii) the Company's growth strategy and
operating strategy; and (iv) the declaration and payment of
dividends. The words "may," "would," "will," "expect," "estimate,"
"anticipate," "believe," "intend," and similar expressions and
variations thereof are intended to identify forward-looking
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statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond the Company's
ability to control, and actual results may differ materially from
those projected in forward-looking statements resulting
from various
factors.
Media contact:
Justin Baronoff
561-750-9800; justin@transmediagroup.com.
